5 points Skipped Mc Graw Hill Help Save & Oki Company pays $286,950 for equipment expected to last four years and have a $30,000 salvage value. Prepare journal entries to record the following costs related to the equipment. 1. Paid $27,200 cash for a new component that increased the equipment's productivity 2. Paid $6,800 cash for minor repairs necessary to keep the equipment working well. 3. Paid $20,150 cash for significant repairs to increase the useful life of the equipment from four to seven years. View transaction list Journal entry worksheet A B C Record the betterment cost of $27,200 paid in cash. Note: Enter debits before credits. Transaction General Journal Debit Credit 63 < Prev 5 of 6 Next